>>9288599
About 2 weeks ago Anon posted about CA Controller/CalPERS Board member Yee may have traveled to China Oct2019. No confirmation of a trip but diggz show association with China investments. From note:
Yee may have traveled to China to discuss climate change emissions policy? LA Times article discusses the “impact” of climate change and emissions effecting the CalPERS pension fund. LA Times article references Yee but does not mention any trip (excerpt below). Another article posted Oct 21, 2019 by National Policy and Legal Center discusses “Climate Action 100” and Betty Yee a prime mover in the policy, second excerpt below.
LA Times Excerpt:
“That would happen faster than the fund would be able to react,” said Steven Feit, an attorney at the Center for International Environmental Law, which backed SB 964. And it’s exactly “the kind of thing that pension funds should be protecting against,” he said.
When questioned by State Controller Betty Yee on Monday, CalPERS’ Beth Richtman disclosed that she did have estimates for Scope 3 emissions, but that they were not included in the draft report because the figures were considered unreliable and probably included duplicate emissions.
For instance, tailpipe emissions from cars would qualify as Scope 3 emissions for both automakers and oil producers, and would be counted twice if CalPERS held investments in both, said Richtman, the agency’s managing investments director for sustainable investments.
Richtman said that the Scope 3 emissions for CalPERS’ portfolio totaled 58 million to 68 million tons of carbon dioxide per year — about as much as the annual emissions from Finland.
under “Scope 3 Emissions.”
Climate change threatens billions in CalPERS pension fund
(LA Times Dec 19 2019)
https://www.latimes.com/environment/story/2019-12-19/climate-change-threatens-billions-in-calpers-pension-fund
NPLC excerpt 1:
Climate change activists are also investors. And they are using their equity positions to coax corporations into becoming activists themselves. Climate Action 100+, or CA 100+, is leading the way. This network of progressive investors, managed by a steering committee of five organizations including Ceres and UN Principles for Responsible Investment (PRI), officially coalesced at the Planet One Summit in Paris in December 2017, a follow-up to the Paris Agreement of 2015. Now comprising around 370 institutional investors across dozens of countries, Climate Action 100+ now effectively controls more than $35 trillion in assets. And it’s flexing its muscles.
To be part of the Climate Change 100+ mission, an equity fund, university or other institutional investor must commit itself to investing in companies that sign commitments to reduce their carbon footprint. An initial 100 business enterprises signed on, and another 61 followed. Expect the total to keep rising.
Climate Action’s main goal, pursuant to the Paris Agreement, is limiting global average temperature to “well below” 2 degrees Celsius above preindustrial levels. In addition, the group encourages corporations to comply with the 2015 pact’s “20/20/20” targets – a reduction of carbon dioxide emissions by 20 percent, an increase of market share of renewable energy to 20 percent and an increase in energy efficiency by 20 percent. In its own words, Climate Action seeks to “engage with the world’s largest greenhouse gas emitters to curb emissions, strengthen climate-related disclosures and improve governance on climate change.” The group emphasizes “working with the companies in which we invest.” Such language suggests divestment from any company not on board. With fossil fuel producers, it’s been more than a suggestion.
NCSL excerpt 2:
The prime mover behind Climate Action, California State Controller Betty Yee (in photo), is uniquely positioned to extract commitments from target companies. In addition to being the state’s chief fiscal officer, she’s also a board member of the California Public Employees Retirement System (CalPERS), the California State Teachers’ Retirement System (CalSTRS) and Ceres. “With trillions of dollars under management globally, we can demand accountability from the largest corporate greenhouse gas emitters and hold governments responsible for the impact of their decisions,” she told a Global Climate Change Summit in San Francisco a year ago.
Climate Action 100+: A Global Warming Activism Shakedown
(National Policy and Legal Center Oct 21 2019)
https://nlpc.org/2019/10/21/climate-action-100-a-global-warming-activism-shakedown/